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How Hyundai lost momentum, and will 'take a few years' to recover

SEOUL/DETROIT/CHONGQING, China — At a near-empty Hyundai Motor showroom in the Chinese mega city of Chongqing, the store manager is grumbling about his shortage of customers and a lack of bigger, cheaper SUV models popular in the world's largest auto market. Even with discounting of as much as 25 percent, his dealership was selling barely a hundred vehicles a month, said the manager surnamed Li. A nearby Nissan dealership was selling about 400 vehicles a month, a store manager there said. "The sales are simply poor," Li told Reuters. "Look at the Nissan store next door, they have tens of customers while we just have two." An hour's drive away is Hyundai's massive $1 billion manufacturing plant, which opened last year with a target to produce 300,000 vehicles per year. But with sales weak and the Chinese auto market slowing sharply, the factory is running at roughly 30 percent of capacity, two people with knowledge of the matter said. The sources asked not to be identified because the information was not public. Hyundai, the world's fifth largest automaker, declined to comment on the Chongqing plant's production or the showroom's sales but said it is "closely cooperating" with local partner BAIC to turn around the China business. BAIC did not respond to requests for comment. Hyundai's woes mark a major reversal for the automaker which was an early success story in China as it quickly and cheaply rolled out popular new models into a surging market. In 2009, Hyundai and partner Kia's combined sales ranked third in China after General Motors and Volkswagen. The South Korean duo now ranks ninth, and its market share in China was 4 percent last year, from more than10 percent at the beginning of this decade. Executives and industry experts say Hyundai conceded its once stronghold in the low-end segment to fast-growing Chinese rivals such as Geely and BYD. Foreign rivals not only defended their turf in premium segments but also kept pricing competitive for mass-market models, squeezing Hyundai's positioning as an affordable foreign brand, they said. In the United States, the world's second-biggest auto market, Hyundai's market share fell to 4 percent last year, near a decade low. Hyundai ran into problems in China and the United States for similar reasons: It missed shifts in consumer tastes, especially the surge in demand for SUVs, and it sought higher prices than its brand image could command, four Chinese dealers and half a dozen former and current U.S.

We drive the 2025 Porsche 911 T-Hybrid, updated Miata and Lamborghini Urus | Autoblog Podcast #841

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. This week, they discuss driving the 2025 Porsche 911 GTS T-Hybrid and the base 911 Carrera. Once they wrap up the Porsche section, the two chat about their driving experiences in the updated 2024 MX-5, refreshed Lamborghini Urus S and the Mercedes EQE 350+ SUV. After the reviews, it's time for some current events, as the two dig into the Goodwood Festival of Speed highlights, news of a redesigned Hyundai Palisade, an upcoming electric three-row Hyundai SUV and Audi's new A5 and S5 models. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #841 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2025 Porsche 911 GTS T-Hybrid 2025 Porsche 911 Carrera 2024 Mazda MX-5 Miata 2024 Lamborghini Urus S 2024 Mercedes-Benz EQE 350+ SUV News Goodwood Festival of Speed recap Hyundai Palisade spy shots Three-row electric Hyundai SUV 2025 Audi A5 and S5 revealed Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video:  2025 Porsche 911 GTS gets new T-Hybrid: Sneak peek at the 992.2   This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

A new Hyundai Accent arrives next week with baby Elantra styling

The teaser video above doesn't leave much to the imagination, giving us a very good look at the shape and some details of the 2018 Hyundai Accent sedan. But this is all we get until the car is fully revealed at the Canadian International Auto Show in Toronto on Thursday, February 16. From the flashes of light and silhouettes, it's apparent the new subcompact Accent sedan will take pretty much all of its cues from the compact Elantra, which itself was updated for 2017. The Elantra, in turn, looks like a combination of about three other cars, but it manages to blend those designs in a handsome way. Its almost fastback design, LED lighting signature, and hexagonal grille all appear to carry over to the new Accent. We expect Hyundai to continue to offer a five-door Accent hatchback in this next generation as well. As for the interior, we expect a similar complement of new features, like infotainment with Android Auto and Apple CarPlay functionality and some new safety systems. Mechanicals are likely to be very similar to what's available on the Accent today, which means a relatively efficient four-cylinder, probably again displacing 1.6 liters and making about 140 horsepower. We'll of course bring you all the details once the car is revealed next week. Related Video: